Is forex like gambling

Make no mistake about it folks, trading is gambling! Notice a common theme? Because they want to sell you their product, of course. Because gambling is a bad thing, right? The truth may surprise you. What is the truth? It all comes down to putting on trades where the probable win is higher than the probable loss. In other words, stacking the odds in your favor. In a previous lesson, I wrote about price action and confluence. Forex trading is the ultimate form of gambling.

We get to review past price action before putting on a trade. The key is finding the right Confluence Factors that stack the odds in your favor. All of these factors mean a higher probability that this trade will make us money, and it did. We can learn something from casinos. Then wait for the strange look they give you. Do you think trading is gambling? Save my name, email, and website in this browser for the next time I comment. You can argue that people who do not have those skills, and there are many of them are gambling. But the few that have acquired the skills and know what they are doing are NOT gamblers.

So you are not credible as a trader. I am sorry. You should not be trading. Sorry you feel that way, Justin. Wagering of money on an event with an uncertain outcome with the primary intent of winning money — that sounds like trading to me.

Every business gambles to some degree, not just the trader. Hey Justin, If you think that way, you can say parents looking after their children and providing them with everything in theire capacity believing children would look after them in return when they will be needed and when the children ditch their parent to be in old age homes, the parent were gambling. An entrepreneur who confidently relies on his hunch and abilities to grow a business is gambling. The investors who invest in companies and shares are gambling.

Nonetheless the very individual who is working hard to get a dream job is gambling because most of the time the aspirant does not end up with dream job or to make things worse even jobless. All of these people know nothing more than the history known to them and they are gambling with their time, money, resources.

When I started Forex trading, i started with demo accounts and I traded without doing any analysis. I ended up blowing my full account. I was gambling. It s been 2 years now and I am still in the process of learning, because I dont want to gamble. How do I do that. Not trading based on emotions, trade purely based on facts, get news updates constantly, follow mentors, research, back test. And I am able to make profit now. Those who think it is a serious business or investment venture and do everything necessary for its success, your success is guaranteed.

Good luck folks.

So why do some people manage to maintain an edge in gambling, or an edge in trading? Well said, Dakao. But folks, if you can loose, it is a gamble, period! I am surprised that we are arguing over this. Tell me. If you are a trader, tell me if your results have improved from the last time we had this exchange. You see, to become a good doctor, students are required to go to school for almost 10 years. Well, why do people think that trading, which when done well can make you a billionaire, does not require any formal training?

In fact it does, but nobody will provide that training because once you are good at it, you keep the knowledge to yourself.

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And if you were right then all the investment banks that have trading desks are also gambling. Is that what you think? How do you not realize that any human endeavor at which one can become better over time is not gambling?

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If you have not, please do. And once you have. Sit down, get yourself a good computer and start learning to read price movements. Get familiar with Elliott Wave theory. Develop some good common sense. If you are really serious about it, you will soon develop a different mindset. Until you do though, I am afraid you will continue to lose your hard earned dollar because in fact before you get a serious training you are nothing else but a gambler. And those who are not in it to gamble will take your money.

Investing, trading, to me is not gambling, as you own shares in the company concerned.

Major Characteristics of a Forex Gambler

You put your money in a Bank or Building Society and get a fixed rate of interest. You invest in the stock market hoping to make more than in a Bank or Building Society knowing that you are taking on greater risk. Investing in a share one takes into account the fundamentals of the company, how well it is run etc.. Gambling is like E G throwing a dice or a game of roulette, where you have no control at all. If we did not have Banks and private people investing in companies, our civilisation would not be so far advanced. Alex, this post is about trading, not investing. Those are two very different things, especially when referring to fiat currency.

Is there anyway around this? I have one important question regarding Forex Trading. Elias, the point of this post is that you need to trade like the casinos by stacking the odds in your favor. Trading is not gambling, it is possible to make money in the market, only those who know the market how it is moving.

It seems you missed the point of the post, which is to trade like a casino by stacking the odds in your favor. I agree with you Justin. This is a great post.

Easy to understand even for the layman. Thank you. The similarity to gambling is that the outcome of one individaul trade is unknown and ramdom. You can try to increase proabilities with more confluencies, but it is still ramdom. Serious traders make money via a series of trades with proper Risk Reward. Absolutely true article. There is no way to guarantee your trade will be a profit. If you define gamble as taking on risk in the hope of a desired result, then yes, opening a new restaurant is a gamble.

Most life endeavors are gambles if you stop and think about it. Yes, absolutely! It is a big gamble in running any business. I am a business owner myself and I have made a huge lost before in running a restaurant. There are situation that you have either no control or little control or lost control. Trading means a supply and demand cycle. You get the supply so if there is a demand you sell your supply. If you have business, e.

Very true. I think some folks get the literal definition of gamble confused with the idea of gambling. I do not want to work a white collar job all my life. Forex reminds me of establishing privately controlled central bank by making public fool or hypocrite.